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revenue bond |
Also found in: Dictionary/thesaurus, Financial, Wikipedia | 0.02 sec. |
revenue bondor limited obligation bondBond issued by a municipality, state, or public agency authorized to build, acquire, or improve a revenue-producing property such as a waterworks, electric generating plant, or railroad. Unlike general-obligation bonds, which are repaid through a variety of tax sources, revenue bonds are payable from specified revenues only, usually the revenues from the facility for which the bond was originally issued. Revenue bonds typically pay interest rates higher than those of general-obligation bonds. The separation of the revenue bond obligation from a municipality's other bond obligations allows the municipality to circumvent legislated debt limits. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Newark Commons: On May 17, CharterMac acquired a $14,300,000 tax-exempt Multifamily Housing Revenue Bond from New Castle County, Del. Although payment of debt service is subject to appropriation, each month an amount equal to 25% of estimated PIT receipts (after refunds and deposits to the school tax relief fund) is deposited into the revenue bond tax fund. Another IDA deal will provide the New York Outward Bound Center with a $7 million tax exempt revenue bond to purchase the 40,000 square-foot 29-46 Northern Boulevard in Long Island City. |
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